Deutsche Asset and Wealth Management, the ETF business of the largest German bank, will introduce a new spin on municipal bond ETFs when the db X-trackers Municipal Infrastructure Revenue Bond Fund (NYSEArca: RVNU) debuts on Tuesday June 4.

RVNU will be the first ETF to focus exclusively on municipal bonds issued to fund infrastructure projects. Other popular municipal bonds ETF focus on a variety of muni issues. For example, the iShares S&P National AMT-Free Municipal Bond Fund (NYSEArca: MUB), the largest muni bond ETF by assets, features ample allocations to transportation, various purchase, utility and tax-revenue muni issues. [Municipal Bond ETFs Shift Gears In 2013]

RVNU will track the DBIQ Municipal Infrastructure Revenue Index. That index is designed to designed to track federal, state and local infrastructure projects, including water and sewer systems, public power systems and toll roads and bridges, reports Hilary Russ for Reuters.

While assets under management at muni bond ETFs represent just a fraction of total fixed income ETF assets, some of the group’s more notable funds hold dominant positions. For example, MUB and the Market Vectors High-Yield Municipal Index ETF (NYSEArca: HYD) combine for over $4.7 billion of the less than $13 billion in assets across all muni bond ETFs. [BlackRock Cautious On Muni Bond ETFs]

The dominance of MUB, HYD and a few others could be a sign that Deutsche Asset and Wealth Management’s approach with RVNU could bear fruit. Scores of “me too” ETFs have struggled against more established competition, but RVNU will have the benefit of first mover advantage with its focus squarely on infrastructure munis.